Gold Price Challenges Record Highs amid No Debt Ceiling Deal

Gold Price Challenges Record Highs amid No Debt Ceiling Deal. The gold price traded as high as $1,609.50 Sunday night, within $0.50 of its all-time high of $1,610 per ounce. The lack of an agreement between President Obama and congressional Republicans to raise the debt ceiling led to buying in gold and selling in stock prices. The August 2 deadline to raise the $14.3 trillion debt ceiling is looming and a deal does not appear to be forthcoming.

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